Fenergo provides an API-first platform that supports compliance operations across the client lifecycle, including digital client onboarding, reviews as well as client maintenance and offboarding.
Tuesday 14, May 2019 BY KUDAKWASHE MUZORIWA
Ireland-based Fenergo, the provider of digital CLM solutions for financial institutions, said that it is now fully licenced by the Dubai International Financial Centre (DIFC).
Fenergo stated that with increasing scrutiny on regulatory compliance in the region, financial institutions will benefit from its deep expertise in Know Your Customer (KYC) and Anti Money Laundering (AML) as well as market-leading rules engine.
Additionally, Fenergo said that complying with regulation in the client onboarding process is a fraught challenge, with banks required to meet progressively demanding requirements around AML, KYC as well as customer due diligence (CDD), sanctions and tax reporting.
The provider of CLM solutions also said that it has appointed Cormac Sheedy as Head of Sales for MENA, Cormac will join Sean Moore, the Head of MENA and Fenergo’s existing team in Dubai.
The growing focus on regulation and compliance in the region has created an unprecedented demand for fintech and regulation technology, which provides enormous opportunities for growth, said Cormac Sheedy, the Head of Sales for MENA.